Forum Energy Technologies, Inc. (NYSE:FET) Stock Rating Reaffirmed by Barclays PLC

Forum Energy Technologies, Inc. (NYSE:FET)‘s stock had its “hold” rating reaffirmed by equities research analysts at Barclays PLC in a research note issued on Sunday, November 5th. They currently have a $17.00 price objective on the oil and gas company’s stock. Barclays PLC’s price objective would indicate a potential upside of 26.39% from the stock’s current price.

A number of other research analysts have also recently issued reports on FET. Zacks Investment Research raised shares of Forum Energy Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Cowen Inc dropped their price objective on shares of Forum Energy Technologies from $15.00 to $11.00 and set a “market perform” rating for the company in a research note on Tuesday, August 1st. BidaskClub cut shares of Forum Energy Technologies from a “sell” rating to a “strong sell” rating in a research note on Friday, August 4th. Scotiabank set a $24.00 price objective on shares of Forum Energy Technologies and gave the stock a “hold” rating in a research note on Monday, July 31st. Finally, Citigroup Inc. raised their price objective on shares of Forum Energy Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, October 5th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $18.20.

Shares of Forum Energy Technologies (NYSE FET) traded down $0.10 during trading on Friday, reaching $13.45. 219,650 shares of the company’s stock were exchanged, compared to its average volume of 986,881. Forum Energy Technologies has a 12 month low of $10.05 and a 12 month high of $26.25. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.74 and a quick ratio of 1.76.

Forum Energy Technologies (NYSE:FET) last issued its earnings results on Tuesday, October 31st. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.10). Forum Energy Technologies had a negative net margin of 16.85% and a negative return on equity of 3.97%. The company had revenue of $198.70 million during the quarter, compared to analysts’ expectations of $200.96 million. During the same period last year, the company posted ($0.19) earnings per share. The firm’s quarterly revenue was up 43.7% compared to the same quarter last year. sell-side analysts predict that Forum Energy Technologies will post -0.36 earnings per share for the current year.

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A number of hedge funds have recently added to or reduced their stakes in FET. Ameriprise Financial Inc. purchased a new stake in Forum Energy Technologies in the 1st quarter worth approximately $2,546,000. FMR LLC purchased a new stake in Forum Energy Technologies in the 1st quarter worth approximately $4,499,000. Teachers Advisors LLC grew its stake in Forum Energy Technologies by 7.5% in the 1st quarter. Teachers Advisors LLC now owns 106,140 shares of the oil and gas company’s stock worth $2,197,000 after acquiring an additional 7,393 shares during the period. Legal & General Group Plc grew its stake in Forum Energy Technologies by 12.3% in the 1st quarter. Legal & General Group Plc now owns 24,195 shares of the oil and gas company’s stock worth $499,000 after acquiring an additional 2,642 shares during the period. Finally, Vanguard Group Inc. grew its stake in Forum Energy Technologies by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 5,469,195 shares of the oil and gas company’s stock worth $113,213,000 after acquiring an additional 205,452 shares during the period. 95.35% of the stock is owned by hedge funds and other institutional investors.

About Forum Energy Technologies

Forum Energy Technologies, Inc is an oilfield products company. The Company designs, manufactures and distributes products, and engages in aftermarket services, parts supply and related services. The Company operates through three segments: Drilling & Subsea, Completions, and Production & Infrastructure.

Analyst Recommendations for Forum Energy Technologies (NYSE:FET)

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